Oil Search , a name which says everything you need to know about what it does, has both surprisingly deep roots in PNG and an equally surprising exposure to an exploration play in Alaska which could contain as much as one billion barrels. The plum PNG asset is a 29% stake in a liquefied natural gas project operated by the U.S. oil giant ExxonMobil .
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This, the firm estimates, could lead to a 40% increase in crude production in the next eight years. That would amount to 200 thousand barrels per day, not very significant on a global scale, but important for the state and nation.
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Even so, EP companies want to build portfolios that will stand up to intensifying investor scrutiny of carbon emissions, and are robust at the low commodity prices that the energy transition may, in time, bring. Traditional performance metrics focused on growth or returns are no longer sufficient.
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